Madrid, February 10, 2022

SPANISH SECURITIES AND EXCHANGE COMMISSION

Please find attached the documentation to be presented to investors in upcoming meetings.

Ángel L. Dávila Bermejo General Counsel

12M 2021 Results

Analyst & Investor presentation

February 10th, 2022

Key highlights >4Q 2021

COVID

IMPACTS

PREMIUM

GROWTH

PERFORMANCE

  • Successful adaptation of business model to new environment
  • Life Protection and Health claims in Latin America improved on the quarter
  • Change in trend in Auto with higher mobility in the quarter and still recovering from 2020 premium discounts, especially in developed markets
  • Improving claims trends in Homeowners
  • Solid underlying growth trends continue across most regions, with resilient performance in Spain, Brazil, Mexico and MAPFRE RE
  • No relevant NatCat losses in Q4 and stable evolution of prior quarter claims
  • Important contribution from investment result > active management of the investment portfolio helping offset COVID losses with realized gains
  • Resolution of Bankia agreement and streamlining and expense reduction leading to a more efficient operation

2

Focus on sustainable growth

Return to growth in

Strong profitability

Transformation

Sustainable value creation

main markets

for shareholders

REVENUE > €27 bn

PREMIUMS +8%

SPAIN +9%

MAPFRE RE +10%

BRAZIL +15% local currency

Stabilization main currencies

Disciplined growth while

gaining market share

Net income €765 mn

ROE 9%

Strong results at insurance

units > despite Covid Life-

Protection claims in Latam and normalization of Motor mobility

Robust profitability at

MAPFRE RE > in a high NatCat

year

Active investment portfolio

management

Continuous streamlining

business model while

leveraging diversification

Expense reduction and

leaner structure

Strong restructuring effort

in Spain and Italy

Fully focused on growing

profitably

Return to pre-Covid

dividend

€0.145 to be paid against

2021 fiscal year*

High levels of solvency and

financial flexibility

* Includes interim dividend of €0.06 paid in November and a final dividend of €0.085 proposed by the Board of Directors to be approved at AGM on March 11th

3

2019-2021Strategic Plan > meeting targets in a challenging market context

2019-21 Target Status2021 Guidance Status

>€27 bn

Total revenue

€28-€30 bn

€29.9 bn

≈€25.4 bn

>€27 bn

at constant

exchange rates

Premium growth

-

-

+3% (1)

+9% (1)

Adjusted net

-

-

≈ €700 mn

> €700 mn

income (2)

Payout

>50%

>50%

>50%

58%

ROE

8%-9%

≈ 8% (3)

≈ 8.5% (3)

9.0%

(ave. 2019-21)

7.4%

8.3% (4)

97.5%

Combined ratio

96-97%

96.6%

≈ 95%

96.1%

(ave. 2019-21)

ex-restructuring

  1. Premiums in insurance units
  2. Excluding capital gains and relevant NatCat events
  3. Excluding non-operating items
  4. Excluding net gains from BANKIA transaction, the breakdown is available on slide 17

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Mapfre SA published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 07:59:05 UTC.